Barclays F&F payment

fairybex

Hi,
I am in the process of offering F&F payments to my creditors and have only had a positive reply from Barclays and I want to check the letter is as good as it sounds -

"We are prepared, without prejudice, to accept £550 in full and final settlement of the debt, provided the payment is made by 28th October. Upon receipt of cleared funds we will lodge a full satisfaction with the Credit Reference Agencies"

The rest discusses paying by cheque or actually in the bank, does this sound ok?

Also Egg seems to generally just ignoring my letters and asking me to call them, shall I just continue to write to them with my offer? Is it likely they will change their mind? I've not heard from my Barclays loan at all!

The money I have is being given to me 'on loan' from my parents so if Egg doesn't reply it will just go to another creditor, should I point this out to them?

Thanks

Tixy

That sounds like fine wording to me.

Re egg if you write with another offer then give them a deadline to accept the offer by, 2weeks or so, and then say that after that time the offer will be made to another creditor. Sometimes that does help focus a creditor's mind into accepting your offer, if they still don't respond then you may have to accept they won't give you an F&F at the moment. If so then perhaps try again in a few months. Frustrating though

RenB21

Can I ask about the F&F from Barclays? Is the debt still with Barclays, as I'd heard they didn't offer them. I have a credit card with them that I'd like to pay off.
Thanks

fairybex

Yeah the debt is still with Barclays, its an overdraft - I was surprised they said yes but I had a letter today from my Barclaycard saying that they would accept if I offered a bit more so they are obviously open to offers. No word on my Barclay loan but who knows what will turn up in the post on Monday!

I'll try again with egg!

Moglet

Hi fairybex

Can I ask a question regarding your Barclaycard..have they marked your account as being in default?

fairybex

Yeah all my accounts are in default have been for a while

Moglet

Ah right. My OH entered into a DMP in 2004 but Barclaycard haven't defaulted his account, well not with the credit reference agencies.

fairybex

Just wanted to update this thread - Barclays have come through again! On a loan of £5274 they have agreed to accept £2200! Yahoo!

Moglet

Good result fairybex. Barclaycard refused to budge an inch so we paid them off in full as they we still charging interest of 12.9%. Need to fight them now over the A2P payment data that's on his file as really, they should have defaulted the accounts back in 2004 and now they'd be dropped off. The accounts did actually drop off his file for about 6 weeks but they're back on again now.

Hope you continue to have success. Barclays settled for 47% for us too. Hard to believe that Barclaycard can be the complete opposite.

fairybex

Update: Experto Credite (old mbna account) as accepted £2894 when I owe around £5800 so I'm quite please with that - usual letter about account will be registered as satisfied.

Had a letter from Marbles saying they will accept £3155 when I owe £5252 which is a bit more than I wanted to pay, also they will register the account as a default but promise not to collect the remaining balance. Does this sound right? Anyone had any dealing with this with marbles?
Thanks

Fribourg

fairybex wrote: »

they will register the account as a default but promise not to collect the remaining balance.

As far as I know, default means you still owed the money, it should say satisfied if a final payment has been agreed, so be careful with that one. You need to get that in black and white, maybe I'm wrong, sure people here will tell you how it really is.